Home ownership is often referred to as one of the big Aussie dreams. But our houses are also in demand from investors overseas as well. It’s an issue the House Economics Committee will investigate as part of a new inquiry just announced. Current rules usually only allow foreign buyers to invest in new dwellings. However committee Chair Kelly O’Dwyer says concerns have been raised that foreign investment in Australian real estate is causing a distortion in the market which could be affecting housing availability and affordability. “The committee will take a very broad and holistic approach to examining whether the current policy settings in this regard are delivering the best possible outcomes for Australia,” she said. Submissions are due by May 9 – for more info go to the committee’s website. aph.gov.au/Parliamentary_Business/Committees/House_of_Representatives_Committees?url=economics/foreigninvestment/index.htm
Posted on: Wed, 19 Mar 2014 22:11:33 +0000
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